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with so much going on, the fiscal cliff, negotiating back and forth with the house trying to figure out how to avoid massive tax increases and spending cuts, why there? it's all politics. >> steve: one other note, the "wall street journal" says regarding right to work states, between 2000 and 2010, 5 million people moved from union states to right to work states and they have 23% higher rate of income growth per capita in right to work states. so things are thriving in the right to work states. there are 24 of them. 26 still are union states. >> gretchen: eric brought up an interesting point about why isn't the president staying in washington, because now it turns out that the fiscal cliff is actually closer than we thought. it was not coakley january 1 anymore. we've about to go off it any day now because apparently it takes a certain amount of days to actually draft any kind of legislation that they might come to an agreement on and so if you backtrack then from the end of the year and when congress is going to be going home for christmas and other holidays, then you really don't have
with so much going on, the fiscal cliff, negotiating back and forth with the house trying to figure out how to avoid massive tax increases and spending cuts, why there? it's all politics. >> steve: one other note, the "wall street journal" says regarding right to work states, between 2000 and 2010, 5 million people moved from union states to right to work states and they have 23% higher rate of income growth per capita in right to work states. so things are thriving in the right...
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Dec 13, 2012
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i think we are coming up again at the end of the year, people looking at the fiscal cliff situation and everyday we get something different coming out of washington today, disagreement. tomorrow it could be sounds like talks are progressing. we can see things slip around staying in this broad range across a series of markets and i think he will continue to see that until yo they get some kinf definitive answer and direction out of d.c. we will go from economic standpoint and getting money to work in the most efficient way. liz: good to see you gentlemen, thank you very much. never gets boring around here on fox business lackluster retail sales from the fed announcement yesterday turning on the stick is beginning next month painted the market red leaving me wondering if high investors, the smart money might be changing their investment strategy. we thought we would bring in, millions of dollars, they want to see the money grow. joining us in a fox business exclusive. you seem like a very measured person, that is why you have a lot of wealthy clients because you must do well for them. aft
i think we are coming up again at the end of the year, people looking at the fiscal cliff situation and everyday we get something different coming out of washington today, disagreement. tomorrow it could be sounds like talks are progressing. we can see things slip around staying in this broad range across a series of markets and i think he will continue to see that until yo they get some kinf definitive answer and direction out of d.c. we will go from economic standpoint and getting money to...
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has to give in this fiscal cliff play the states have to contribute something to the to the you know to the party so you think that if if this tax exempt status of interest is curbed to an extent it's not going to impact borrowing costs for cities or states dramatically because the demand is so high for newbies it's going to be impacted but you see assessments they range from like ten basis points to you know one hundred basis points and you know it's a function of where interest rates are at the time and stuff the point is there's massive demand in fact many investors are cut out from being in this market just because you know most of the bonds are flowing up to the top income brackets just the way j.p. i'm for example j.p. morgan massive underwriter a lot of those bonds go into their own clients accounts so you know if you're not a client you're less likely to get the bonds. or the others in the end ratings and ok and just quickly before we go why have there been such demand for muni's lately because people want to shelter their income from dex is. there yamit very avid all right w
has to give in this fiscal cliff play the states have to contribute something to the to the you know to the party so you think that if if this tax exempt status of interest is curbed to an extent it's not going to impact borrowing costs for cities or states dramatically because the demand is so high for newbies it's going to be impacted but you see assessments they range from like ten basis points to you know one hundred basis points and you know it's a function of where interest rates are at...
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the cliff is something we are approaching now and we can see where it is. we know will hit the cliff. the avalanche is different. the only thing you know about avalanches, you know when the conditions are present. you know when the snowpack has built up to the point where it could happen. you do not know when it is going to happen, you just know it is coming. once it hits you, the avalanche becomes completely impossible to control. do you agree with this characterization about the avalanche? could you elaborate about that kind of threat? >> would you mind if i steal that from you? i will give you credit. i think it is right. i do think -- that is why what you're doing now is so important. this is a once in a generation opportunity for you to nail these things down. we're not that far apart. i really do not think we are. if you are able to put us on a credible path to fiscal sustainability, do it in a balanced way, i think we are golden. i think we will avoid that avalanche. if we do not do that, ultimately, it means we will never do it until we're forced by
the cliff is something we are approaching now and we can see where it is. we know will hit the cliff. the avalanche is different. the only thing you know about avalanches, you know when the conditions are present. you know when the snowpack has built up to the point where it could happen. you do not know when it is going to happen, you just know it is coming. once it hits you, the avalanche becomes completely impossible to control. do you agree with this characterization about the avalanche?...
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i do think getting over the fiscal cliff, the deal getting closer to balance the budget is still very important. i do hope because of the discussion that tax reform is something that is taken seriously for this year. i think that is well overdue. there is not time to do it before december 31. it will give businesses a lot of assurances that the government is paying attention to what they are saying. >> you should tell barack obama to find a jim baker. >> think about each time we have reached a crisis point in our country there's been an institutional response to it. we created a central bank. that has proved to be enormous for the past five years and important for years before that. post-world war ii, we create a system and the department of homeland security. i wonder if there's not an institutional -- >> some did not work as well as others. >> that is exactly right. it reflects our values and the focus of the government. we should have a department of homeland prosperity. we need somebody other than the president to think about american competitiveness. something we've taken for gra
i do think getting over the fiscal cliff, the deal getting closer to balance the budget is still very important. i do hope because of the discussion that tax reform is something that is taken seriously for this year. i think that is well overdue. there is not time to do it before december 31. it will give businesses a lot of assurances that the government is paying attention to what they are saying. >> you should tell barack obama to find a jim baker. >> think about each time we...
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the fiscal cliff is something that we need to go over, that way we can enhance our military to special forces and get us some better weaponry. lose the people who are vacationing in all of these foreign countries, limiting the military to doing what it absolutely has to do. host: you are probably the fourth person here who has said we should go over the cliff. the headline from november in "the financial times" was that the fall in consumption would be $200 billion if we go over the cliff. that the u.s. consumer is crucial to growth, they went on to say, because it made up 70% of gdp. some are predicting a recession, a downgrade of our rating for the country. you think it would be ok to go over the cliff? caller: put it this way. only in the last 2000 years of human existence, every time a country goes above 20% tax rate, they failed. rome, babylon. go throughout human history. we are saying it is a 50% tax rate now. what about an 80% tax rate? we cannot survive as a government entity by having so many man hires attached to the host. host: another item attached to the table for debate
the fiscal cliff is something that we need to go over, that way we can enhance our military to special forces and get us some better weaponry. lose the people who are vacationing in all of these foreign countries, limiting the military to doing what it absolutely has to do. host: you are probably the fourth person here who has said we should go over the cliff. the headline from november in "the financial times" was that the fall in consumption would be $200 billion if we go over the...
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you had to deal with the bad republican hand on the fiscal cliff now for better part of a month. this is something to look forward to. that you have two republicans leading the party of this stature and capability. who are movement conservatives in the sense they're both intellectuals. to get these issues viscerally this is something to put you in a good mood. >> bret: rubio talked about the middle class. ryan talked about lifting people out of poverty. different messages than we heard on the campaign trail this past year. >> rub row also seemed to be sort of disagreeing with mitt romney's argument a little bit. the 47% people who just want hand-outs. kind of a thing. which he disagreed with before. it's interesting because i think it's reprehensible message. i also, i wonder where jeb bush fits in to this also. i can't speak to that since i'm not a conservative but i think he would be one of leading contenders along with these two gentlemen. >> charles? >> i share steve's optimism. we are looking at the future of the party. generational change. the goldwater republicans and the
you had to deal with the bad republican hand on the fiscal cliff now for better part of a month. this is something to look forward to. that you have two republicans leading the party of this stature and capability. who are movement conservatives in the sense they're both intellectuals. to get these issues viscerally this is something to put you in a good mood. >> bret: rubio talked about the middle class. ryan talked about lifting people out of poverty. different messages than we heard on...
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the president has known about this fiscal cliff for over a year. and many of his decisions caused us to be in this position. >> stephanie: it is outlandish. it is what he ran on. it is outlandish he proposed doing it. >> the next thing will be a debt ceiling fight. let's be very clear. the debt ceiling is about money we have already spent in large part due to the continuing afghanistan war and the iraq war. this is money -- >> tax cuts for rich people. >> right right. and medicare part d but the point is it is money we've already spent based on republican policies going on for eight years. this is money that's already due that we're making payments on. >> stephanie: speaking of the tax cuts, george w. bush gave a speech yesterday. >> oh, nice. >> people listened? was it a learning appear ex thing? annex thing? >> stephanie: it was hosted by the george w. bush institute. one of the bush institutes' focuses is economic growth. [ ♪ circus ♪ ] >> he might need some bifocals on that focus. >> stephanie: he said his u.s. debates policy, we should do
the president has known about this fiscal cliff for over a year. and many of his decisions caused us to be in this position. >> stephanie: it is outlandish. it is what he ran on. it is outlandish he proposed doing it. >> the next thing will be a debt ceiling fight. let's be very clear. the debt ceiling is about money we have already spent in large part due to the continuing afghanistan war and the iraq war. this is money -- >> tax cuts for rich people. >> right right....
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whether it's the fiscal cliff, the fed meeting. what are the proceed right now? >> we've got bob from s&p capital iq. steven wood and gordon shallop. great to have you all on the show. you normally get the priority of speaking first. what are you doing right now? >> right now we're anticipating for volatility. we knew it was going to be a volatile fourth quarter. there's a lot of policy induced volatility. that said, the economy in the united states has not changed that much. it's grinding along. that recovery we've been talking about for a long time. so it's measurably positive, not robustly positive. that's kind of doing battle with just about offsetting some of the policy risk. >> the fear is all that changes if we go over the cliff. >> it would. right now the forecast is there's some compromise. there's a short-term compromise. they buy time. and they use that to get the silhouette of a grand bargain. if they use the time well, the markets could like that. if we do go off the cliff, that's 8% of gdp. >> what's your expectation, bob? >> we put out a research s
whether it's the fiscal cliff, the fed meeting. what are the proceed right now? >> we've got bob from s&p capital iq. steven wood and gordon shallop. great to have you all on the show. you normally get the priority of speaking first. what are you doing right now? >> right now we're anticipating for volatility. we knew it was going to be a volatile fourth quarter. there's a lot of policy induced volatility. that said, the economy in the united states has not changed that much....
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the pentagon is preparing for massive budget cuts in the event the country does go over the fiscal cliff. you can tell the pentagon is scaling back because today, it became the triangle. [ laughter ] you know, there's a teacher at home going, yes. my math teacher, exactly. he learned something. >> a lot of people said after the election, what will mitt romney do? because he's out of a job, didn't get the job he wanted and, you know, honestly, you can only spend so much time with your money. so, people were saying, what will mitt romney -- he's got a job. he's working at a marriott, ladies and gentlemen. working at a marriott. he's the guy that comes out to the pool and tells the kids to stop splashing. all right, kids. come on. hey, fellas. listen to me. settle down here. >> that could have been funnier. >> dave, call her. >>> that's what's making news in america this morning. >>> that's what's making news in america this morning. >> stay with us for "good captioned by closed captioning services, inc. >>> good friday morning. 4:30 a.m.. i'm eric thomas. >>> and i'm kristen sze. breaking
the pentagon is preparing for massive budget cuts in the event the country does go over the fiscal cliff. you can tell the pentagon is scaling back because today, it became the triangle. [ laughter ] you know, there's a teacher at home going, yes. my math teacher, exactly. he learned something. >> a lot of people said after the election, what will mitt romney do? because he's out of a job, didn't get the job he wanted and, you know, honestly, you can only spend so much time with your...
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the pentagon is preparing for massive budget cuts in the event the country does go over the fiscal cliff. you can tell the pentagon is scaling back. today, it became the triangle. [ laughter ] you know, there's a teacher at home going, yes. my math teacher, exactly. he learned something. >> a lot of people said after the election, what will mitt romney do? because he's out of a job, didn't get the job he wanted and, you know, honestly, you can only spend so much time with your money. so, people were saying, what will mitt romney -- he's got a job. he's working at a marriott, ladies and gentlemen. working at a marriott. he's the guy that comes out to the pool and tells the kids to stop splashing. come on, kids. hey, fellas. listen to me. settle down here. >> that could have been
the pentagon is preparing for massive budget cuts in the event the country does go over the fiscal cliff. you can tell the pentagon is scaling back. today, it became the triangle. [ laughter ] you know, there's a teacher at home going, yes. my math teacher, exactly. he learned something. >> a lot of people said after the election, what will mitt romney do? because he's out of a job, didn't get the job he wanted and, you know, honestly, you can only spend so much time with your money. so,...
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waiting for news on the fiscal cliff and what ben bernanke if he have anything to say about the fiscal cliff after two-day meeting by federal reserve. they are also watching for bond action. i want to touch on something you were saying. mcdonald's, a a contributor to the dow strength. these are contributing, very moderate strength. we are seeing strength and materials, healthcare industrials, that where mcdonald's trades, they are lower today. one of the reasons we were talking about same store sales and mcdonald's being stronger, that is a boost to its stock. but we have seen a pull back, most notably the gap before pressure. disappointed and a number of retailers did. that number is a mixed as we head toward thursday. the retailers on the retail sales figures for the month of november. quickly, touch on one deal today. honeywell making acquisition of intermac. $10 a share. honeywell, it wasn't unexpected. started taking a leg down on that. brian back to you. >> mary, thank you. >>> part of what is giving the market move today along with renewed confidence perhaps. in the chinese econ
waiting for news on the fiscal cliff and what ben bernanke if he have anything to say about the fiscal cliff after two-day meeting by federal reserve. they are also watching for bond action. i want to touch on something you were saying. mcdonald's, a a contributor to the dow strength. these are contributing, very moderate strength. we are seeing strength and materials, healthcare industrials, that where mcdonald's trades, they are lower today. one of the reasons we were talking about same store...
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. >> christin, something else on the fiscal cliff. a drop in confidence and zero u.s. economic growth with no agreement on this fiscal cliff and indeed a ripple effect in the eurozone and elsewhere. do you think the politicians understand the kind of seriousness of the game that they're playing at the moment? >> i think they do and a good sign is notice in the last day or two, you haven't been hearing as much come out of either members of congress or the white house. president obama right now is i think on the road in detroit. gave a speech today about the economy. but you're seeing a little bit less of the sort of back and fort we saw a weeking a with tim geithner putting out a plan and republicans releasing a letter publicly. i think negotiations of this kind best if they're happening without a lot of the public political posturing. i think that's the direction you have seen things go in the last few days so i'm hoping that's a good sign for things and taken seriously. >> i hope you're right. it is childish, i think. finally for you, gary. this ongoing battle blowing
. >> christin, something else on the fiscal cliff. a drop in confidence and zero u.s. economic growth with no agreement on this fiscal cliff and indeed a ripple effect in the eurozone and elsewhere. do you think the politicians understand the kind of seriousness of the game that they're playing at the moment? >> i think they do and a good sign is notice in the last day or two, you haven't been hearing as much come out of either members of congress or the white house. president obama...
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in good news and in perfect news but the truth is consumer confidence and the fiscal cliff talk could say have something to do with all of it. >> no doubt about it new survey out from reuters, michigan in early december we saw consumer sentiment drop to the lowest level that we have seen since august. that suggests, according to analysts that the increased taxes they are expecting from this fiscal crisis is weighing on consumer spending right now. the other side of this though, of course, is vice president biden went to a diner today to talk to some middle class folks and he basically said he has been talking to business leaders to say the converse of this is if there is a fiscal deal business leaders tell him the economy will be unleashed. take a listen. >> the upside is even bigger than the downside. they are ready to move they have well over a trillion dollars out there continue to vest if they think that the economy is going to move. >> and i have been talking to officials in both pears who say that has been the most surprising thing to leaders in washington here in private is tha
in good news and in perfect news but the truth is consumer confidence and the fiscal cliff talk could say have something to do with all of it. >> no doubt about it new survey out from reuters, michigan in early december we saw consumer sentiment drop to the lowest level that we have seen since august. that suggests, according to analysts that the increased taxes they are expecting from this fiscal crisis is weighing on consumer spending right now. the other side of this though, of course,...
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all right, do you think we are headed off the fiscal cliff? let us know. give us an e-mail at gerri@foxbussiness.com. >> coming up on "the willis report", tax dollars have bailed out these workers. we have the shocking findings of a new report coming up next. also, for those fed up with apple's disaster mapping system, google maps is back in business for your iphone. details coming up later. also, they say no news is good news. but this you will definitely want to hear. new evidence of obamacare doing more harm than good to your bottom-line. we will have the latest and we are on the case next in "the willis report." speed. tracy: fannie mae and anyone sparking outrage over six-figure salaries. many executives are raking in serious money. these agencies have accrued $138 billion in taxpayer funding. they still owe us $137 billion of that. for more on this, let's bring in rich edson. a former executive vice president. he is now president and fellow -- excuse me, resident fellow at the american enterprise institute. these salaries are really bothering a lot o
all right, do you think we are headed off the fiscal cliff? let us know. give us an e-mail at gerri@foxbussiness.com. >> coming up on "the willis report", tax dollars have bailed out these workers. we have the shocking findings of a new report coming up next. also, for those fed up with apple's disaster mapping system, google maps is back in business for your iphone. details coming up later. also, they say no news is good news. but this you will definitely want to hear. new...
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. >> some say it's not the end of the world if we go over the fiscal cliff but some say it could thrust us back into recession. what do you think will happen? >> i don't think there's a cliff in the sense that all of a sudden tomorrow something dramatic happens. i think stock markets sometimes react quickly, but for the most part, whether it's going to be a recession or not is a much more long, drawn-out process. but i would say that it's not a good idea to raise anyone taxes and that the marketplace does not differentiate whether you take the money from rich people, poor people or middle class. the marketplace says if you are going to take $800 billion, are you taking it out of the private sector, the productive sector, and are you going to give it to the nonproductive sector in washington? basically the sector of people who are always messing up things in the marketplace? are you going to do that? if you are going to do that, it's a bad idea no matter whether it's rich people, middle class or poor. doesn't matter. if you take money out of the private sector, it's a bad idea. >> well,
. >> some say it's not the end of the world if we go over the fiscal cliff but some say it could thrust us back into recession. what do you think will happen? >> i don't think there's a cliff in the sense that all of a sudden tomorrow something dramatic happens. i think stock markets sometimes react quickly, but for the most part, whether it's going to be a recession or not is a much more long, drawn-out process. but i would say that it's not a good idea to raise anyone taxes and...
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. >> once you get to the fiscal cliff there is a clear innovation agenda. and the conditions we will have as a result of the fiscal cliffs did get out that. the first one will be immigration. we agreed and a lot of people say how are we going to compete with china and we can have the entire world at our disposal. under which the best people in the world can come to the u.s. and start businesses. >> then we have to focus on a special in the corporate tax reform to get the system which is simpler and promotes efficiency and these are for american businesses. then we have to and that will -- efficiency will be enormous. the next is an infrastructure investment to be made. in the context of the budget deal we are getting where we will spend less going forward. we have to think about what our values are and the most important things we can spend money are on infrastructure to make investments in the future rather than have short-term spending. and twin that with support for research, basic research and higher education and for education. if government does that
. >> once you get to the fiscal cliff there is a clear innovation agenda. and the conditions we will have as a result of the fiscal cliffs did get out that. the first one will be immigration. we agreed and a lot of people say how are we going to compete with china and we can have the entire world at our disposal. under which the best people in the world can come to the u.s. and start businesses. >> then we have to focus on a special in the corporate tax reform to get the system...
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. >> this is something very, very quickly on the talks. the fiscal cliff. how many "meet the press"s do we have left? >> we may have a lot. my indications from the hill and the white house, you are probably hearing this. they really are dug in on they have to give on rates first. >> they don't want to negotiate? >> they don't want to negotiate on medicare to find out they won't negotiate on the taxes. they can do a middle class tax deal and delay the sequester. they could avoid the deadline. >> good news for every sunday. >> i do think people have a high level of frustration with this. >> cynicism. you see it. the public gets it and they are not happy about it. >> thanks. >> congratulations and ebook. i will download it now, i promise. from nbc publishing is available on your ipad and ipad minis. >> i love it. it saved my life. >> you could watch "meet the press" on your local station. quickly before we go to break, opening bell just rang on wall street. the market starting in positive territory. everyone anticipating the announcement of qe 4. the fed chair
. >> this is something very, very quickly on the talks. the fiscal cliff. how many "meet the press"s do we have left? >> we may have a lot. my indications from the hill and the white house, you are probably hearing this. they really are dug in on they have to give on rates first. >> they don't want to negotiate? >> they don't want to negotiate on medicare to find out they won't negotiate on the taxes. they can do a middle class tax deal and delay the sequester....
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have a great weekend, everyone. >> john: another weekend no, deal on the fiscal cliff. how close one is depends on whom you believe. this is "special report." ♪ ♪ >> john: good evening. i'm john roberts in for bret baier this evening. deadlock, gridlock, stalemate, whatever you call it. most people in washington seem to think we are there. we have just four more weekends to go before america goes over the most talked about piece ovate i of real estn the world, the fiscal cliff. ed henry tells us not everyone is pessimistic. >> reporter: literally snapping his fingers, vice president joe biden today suggested it will be easy to finish a deal with congress to avoid the fiscal cliff. >> it would take 15 minutes from the time the decision is made by the speaker of the house to pass and make permanent middle class tax cut. the president would probably have me sprint up to the hill to bring the bill down for him to sign. it can be done like that. it is not complicated. >> greg: speaker bane -- >> reporter: speaker john boehner not so optimistic. >> this is not a progress
have a great weekend, everyone. >> john: another weekend no, deal on the fiscal cliff. how close one is depends on whom you believe. this is "special report." ♪ ♪ >> john: good evening. i'm john roberts in for bret baier this evening. deadlock, gridlock, stalemate, whatever you call it. most people in washington seem to think we are there. we have just four more weekends to go before america goes over the most talked about piece ovate i of real estn the world, the...
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cliff. what the president does not want to talk about. plus senator jim demint is here to tell you why he is leighing the senate. this is "special report." this is "special report." ♪ ♪ good evening >> good evening. i'm bret baier. much of the public debate focuses on taxes. democrat want to raise them on high earners. republicans don't. but there is another part of the equation that gets less attention. that is spending cuts. chief white house correspondent ed henry looks in to that tonight. >> reporter: pulling on the heart strings as if he were back on the campaign trail, president obama visited middle class family in virginia. >> a couple of thousand dollars means a couple months' rent for this family. >> once again, he was trying to frame the battle oaf the fiscal cliff as being all about taxes. with no mention of spending cuts. >> i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get s
cliff. what the president does not want to talk about. plus senator jim demint is here to tell you why he is leighing the senate. this is "special report." this is "special report." ♪ ♪ good evening >> good evening. i'm bret baier. much of the public debate focuses on taxes. democrat want to raise them on high earners. republicans don't. but there is another part of the equation that gets less attention. that is spending cuts. chief white house correspondent ed...
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cliff. you can tell the pentagon is scaling back. today it became the triangle. [ laughter ] you know there's a teacher at home going yes! my math teacher. exactly. he learned something. and finally an entrepreneur in colorado has crafted an ice cream that's infused with marijuana. [ cheers ] which is why when you go to put in the freezer, it's like, "i'm already chill, man." [ laughter ] we got a great show for you tonight. give it up for the roots! [ cheers and applause ] ♪ >> jimmy: hey! we are in a great mood here at "late night." the grammy nominations were announced last night. i want to say congratulations to the roots! [ cheers and applause ] ♪ their album "undun" got nominated for best rap album. how cool is that? [ cheers and applause ] the greatest band in late night. but that's not all. [ drum roll ] our record "blow your pants off" got nominated for best comedy album! [ cheers and applause ] ♪ i'm so excited. i was freaking out last night. i couldn't sleep. oh, my god. thi
cliff. you can tell the pentagon is scaling back. today it became the triangle. [ laughter ] you know there's a teacher at home going yes! my math teacher. exactly. he learned something. and finally an entrepreneur in colorado has crafted an ice cream that's infused with marijuana. [ cheers ] which is why when you go to put in the freezer, it's like, "i'm already chill, man." [ laughter ] we got a great show for you tonight. give it up for the roots! [ cheers and applause ] ♪...
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going over the fiscal cliff is not good for anyone. it bothers me sometimes if i hear people on both the left and the right entertain this is something that might be good politics. may be good politics for somebody, but it's bad economics for the american economy and more important for people looking for a job and people trying to hold on to a job. >> last question. i want to go back to the premise that you and other republican members of the house would be willing to allow that top tier tax rate to go higher. you know, speaker boehner's argument all this time is that it doesn't effect just those top-earning americans, but it also effects the small business owners in this country. the job creators in this country. >> the speaker's right about that. >> is that valid anymore? >> i'm not willing to -- i don't want to raise those. >> but you're willing to at least talk about it right now? >> they go up automatically. the sun's going to come up in the east tomorrow morning and set in the west. doesn't mean i had a darn thing to do with it c
going over the fiscal cliff is not good for anyone. it bothers me sometimes if i hear people on both the left and the right entertain this is something that might be good politics. may be good politics for somebody, but it's bad economics for the american economy and more important for people looking for a job and people trying to hold on to a job. >> last question. i want to go back to the premise that you and other republican members of the house would be willing to allow that top tier...
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caller: i want to talk about the fiscal cliff and several issues. i am 55 years old. i finished college. i have run in several businesses. i decided to go into nursing. i have been unemployed for the last year and they took food stamps and i now have a job for $9 an hour. i want the republicans to tell me how i'm supposed to live on $9. i have a daughter in college. they don't care. they only care about the rich and the bigger corporations. host: going back to the opening question when people look at what is happening in washington as an example of what he is now dealing with. guest: it's tough. these are really big issues. we just had an election where the president ran on tax reform and this is a big friction point right now in terms of who should pay more in trying to settle these fiscal issues. host: another big part of the debate is going to be taxes. who makes up this organization and what will be their focus next year? guest: the rate coalition as a group of companies like verizon and there are a bunch of them all a part of this. host: at&t, home depot, lockhee
caller: i want to talk about the fiscal cliff and several issues. i am 55 years old. i finished college. i have run in several businesses. i decided to go into nursing. i have been unemployed for the last year and they took food stamps and i now have a job for $9 an hour. i want the republicans to tell me how i'm supposed to live on $9. i have a daughter in college. they don't care. they only care about the rich and the bigger corporations. host: going back to the opening question when people...
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cliff. >>> and later, how kate middleton got caught up in a royal hoax while hospitalized in london. th. so give unitedhealthcare a call today. consider a medicare advantage plan. it can combine doctor and hospital coverage with prescription drug coverage for as low as a zero dollar monthly premium. you only have until december 7th to enroll. call unitedhealthcare today. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ starts with arthritis pain and a choice. take tylenol or take aleve, the #1 recommended pain reliever by orthopedic doctors. just two aleve can keep pain away all day. back to the news. >>> here is some indication of how partisan and paralyzed washington is these
cliff. >>> and later, how kate middleton got caught up in a royal hoax while hospitalized in london. th. so give unitedhealthcare a call today. consider a medicare advantage plan. it can combine doctor and hospital coverage with prescription drug coverage for as low as a zero dollar monthly premium. you only have until december 7th to enroll. call unitedhealthcare today. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping...
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Dec 13, 2012
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it's unclear the fate of the benefits in the fiscal cliff fight, something that terrifies people like alisia worthen. you've been looking for a job for more than six months. are you more optimistic or less optimistic? >> i believe it's going to turn around. it will probably take a little time but i believe it will. >> you need the government to help now until that happens? >> yes, i definitely do. i have a household to run, still have rent and bills to pay and i need help. i need help. >> millions of people like alecia. she still needs an unemployment check, unclear of the fate of jobless benefits and extension of those in the faiscal cliff fight. conservatives say it's time to end it. >> she has a degree in a field that you would think she would be able to get a job in. accounting. >> she worked for a government agency, she was a child support enforcement office, she worked in child support and all these government jobs keep getting -- so it's budget cuts on one end and budget cuts at the other end. >> thank you. >>> still ahead, is weight an issue when it comes to the white house? h
it's unclear the fate of the benefits in the fiscal cliff fight, something that terrifies people like alisia worthen. you've been looking for a job for more than six months. are you more optimistic or less optimistic? >> i believe it's going to turn around. it will probably take a little time but i believe it will. >> you need the government to help now until that happens? >> yes, i definitely do. i have a household to run, still have rent and bills to pay and i need help. i...
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co-owner jonathan williams concerned about the pending government fiscal cliff. >> there's a real simple correlation. people have jobs, they spend money. if people are worried about losing their jobs or don't have a job, then they're not going to go out that much. they're going to cook at home or stay at home. >> reporter: just a couple miles from the pentagon, many of the patrons here work directly or indirectly for the defense department and its contractors. the defense industry is facing $55 billion in discretionary spending cuts next year. unless congress acts to avert the so-called fiscal cliff. in addition, several key tax benefits are scheduled to expire at the end of the year that will have a direct impact on the pocketbooks of many americans. take a couple with one child living in new york earning $100,000. their tax rate jumps from 25% to 28%. they could be hit by the alternative minimum tax. the child tax credit drops from $1,000 to $500, and payroll taxes could be $2,000 more next year. for a single 25-year-old in michigan who works for time earning $30,000 a year and going t
co-owner jonathan williams concerned about the pending government fiscal cliff. >> there's a real simple correlation. people have jobs, they spend money. if people are worried about losing their jobs or don't have a job, then they're not going to go out that much. they're going to cook at home or stay at home. >> reporter: just a couple miles from the pentagon, many of the patrons here work directly or indirectly for the defense department and its contractors. the defense industry...
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cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated support teams at over 500 branches nationwide. so when you call or visit, you can ask for a name you know. because personal service starts with a real person. [ rodger ] at scottrade, seven dollar trades are just the start. our support teams are nearby, ready to help. it's no wonder so many investors are saying... i'm with scottrade. >>> one of the most bizarre man hunts in recent memory is coming to an end in central america, we think. wealth editor robert frank has the latest details on the arrest of john mcafee. >> ye
cliff deal. he joins us exclusively later on "the closing bell." stay tuned. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sales event is on, offering some of our best values of the year. this is the pursuit of perfection. you won't just find us online, you'll also find us in person, with dedicated...
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frankly the fiscal cliff, josh and i have talked about this, wouldn't cause me to do anything. i don't run my fort folio purely for tax consequences. if something's near your price target and you're a holder, then you want to sell. but truth of the matter is is that it's not going to affect that many people. you're talking about what's not a huge increase in terms of the capital gains on a percentage basis. go from 20% to 25% is not that big of deal if you're looking for 30% upside in a name. >> there are people who are selling stocks based on an expected rise in the capital gains rate. >> it may be a huge mistake. >> why not sell and buy it back? >> because then you're pushing your taxes you're paying forward. those taxes that you're paying, you're losing use of that capital for compounding. that's why you don't do it. if you're in the upper, upper brackets maybe you want to consider it. >> let me push back on sprint. there was news david faber was talking about. this sprint/clearwire deal is closer. that doesn't change -- >> not at all. a distant third in a two horse race. i
frankly the fiscal cliff, josh and i have talked about this, wouldn't cause me to do anything. i don't run my fort folio purely for tax consequences. if something's near your price target and you're a holder, then you want to sell. but truth of the matter is is that it's not going to affect that many people. you're talking about what's not a huge increase in terms of the capital gains on a percentage basis. go from 20% to 25% is not that big of deal if you're looking for 30% upside in a name....
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>> steve: one of the young people when did respond said fiscal cliff, that sounds like something i probably studied in school. no. this is new. this is something that they've just fresh baked up for us. >> brian: this generation made it up! >> gretchen: they'll be paying for it. >> steve: for a long, long time. our children and children's children, consider the amount of dent this president has run up. this could be good news. the president of the united states did speak with speaker boehner yesterday on the phone. we know nothing about the call except they talked on the phone. we do know that the last offer, the counteroffer was made by the republicans. they're waiting for the white house. the white house at the same time says come on, we don't have another counteroffer because your last offer was a stinker. you, republicans, need to come up with a new one. >> gretchen: the thing is, they're playing hard ball right now. the white house has sent out tim geithner, the treasury secretary, instead of the president actually, to lead the negotiations and when he was asked yesterday in an intervi
>> steve: one of the young people when did respond said fiscal cliff, that sounds like something i probably studied in school. no. this is new. this is something that they've just fresh baked up for us. >> brian: this generation made it up! >> gretchen: they'll be paying for it. >> steve: for a long, long time. our children and children's children, consider the amount of dent this president has run up. this could be good news. the president of the united states did speak...
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Dec 11, 2012
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of our minds here, the fiscal cliff. and i would be remiss if i didn't ask you both to weigh in on it. but in the following way, number one, what's going on that we don't understand? number two, what should happen? number three, what's the r.s.c. going to do to help us get to that better state of what should happen? either one of you wants to chime in on that one? >> first of all, you know, if you look at where we are right now, it's because of a number of reasons. jim touched on a few of them, going back to the debt ceiling deal. i did not vote for the budget control act. to me it didn't address the real problem and that's spending. if you look at the debate right now, it's mostly about the debate of how much faxes we need to raise. the president keeps adding more to it because he has an insatiablet appetite to add more. we are not addressing the real problem. i don't think anybody's taxes need to go up. you look at what barack obama said three years ago. if you raise taxes in a bad economy it will make things worse. we
of our minds here, the fiscal cliff. and i would be remiss if i didn't ask you both to weigh in on it. but in the following way, number one, what's going on that we don't understand? number two, what should happen? number three, what's the r.s.c. going to do to help us get to that better state of what should happen? either one of you wants to chime in on that one? >> first of all, you know, if you look at where we are right now, it's because of a number of reasons. jim touched on a few of...
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its controversial tax credit could go over the fiscal cliff. >> when swind placed on the surface of the earth, you can get something like 20 times the amount of power that civilization now uses. >> reporter: ken caldera authored a new study that claims wind is the way. >> the wind you can't power civilization on wind today has to do with economics and engineering. >> reporter: he points for history. >> one of the reasons why fossil fuels are cheap is that they have received large subsidies from the federal government. >> reporter: right now wind power gets a subsidy, too. $1 billion a year from uncle sam. but that could vanish december 31st when the country hits the fiscal cliff. to caldera, that's the short-run risk. in the long run, he sees a clear, if not political pristine, path to more reliance on wind power. >> i think we'll eventually get to the point where we see a need for technologies that can provide energy, essentially forever, with minimal environmental cost. >> a final check on the markets when we return after this. ♪ ♪ ♪ ♪ [ male announcer ] 'tis the season to dis
its controversial tax credit could go over the fiscal cliff. >> when swind placed on the surface of the earth, you can get something like 20 times the amount of power that civilization now uses. >> reporter: ken caldera authored a new study that claims wind is the way. >> the wind you can't power civilization on wind today has to do with economics and engineering. >> reporter: he points for history. >> one of the reasons why fossil fuels are cheap is that they have...
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he'll tell you why the fiscal cliff has him doing that a lot harder than ever. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> welcome back to "street signs." i'm sharon epperson. take a look at how u.s. markets interpreted what the ecb did earlier today, cutting its european growth outlook. we saw the dollar strengthen. that has weighed on commodity prices. energy prices in particular across the board with the wti contract closing at a three-week low. we're looking at pressure across the board in the energy sector. that's good news for people driving over the holidays. we're looking at gas prices coming down. futures market and prices at the pump, only ten cents higher than a year ag
he'll tell you why the fiscal cliff has him doing that a lot harder than ever. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your...
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Dec 7, 2012
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but whenever there's job growth, it's something to say thank you for. to be hopeful that we're going to have a better future sglp one of the things that occurs to me as we pivot to discussing the fiscal cliff, in this country the thing we have lacked for 25 years, 30 years, is income growth. the result it seems to me is that we have substituted the growth of debt for the lack of income growth. what would you say we need to do to reduce the debt growth and increase income growth? >> we need wages that grow as fast as inflation or faster than inflation. >> how do you get that? >> well, it is difficult. i think we've got to stop the outsourcing of good paying manufacturing jobs and rebuild those kind of industries. many of them were in urban communities that gave people who may not have had a college education a chance with a good skill to earn a good living. take care of their family. we've seen -- really we've lost so many of those jobs by outsourcing. it was good news this week -- >> when you hear apple saying they're going to build a factory -- >> cong
but whenever there's job growth, it's something to say thank you for. to be hopeful that we're going to have a better future sglp one of the things that occurs to me as we pivot to discussing the fiscal cliff, in this country the thing we have lacked for 25 years, 30 years, is income growth. the result it seems to me is that we have substituted the growth of debt for the lack of income growth. what would you say we need to do to reduce the debt growth and increase income growth? >> we...
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dennis: maybe something good can come out of the fiscal cliff. online gambling gaming in the negotiations. cheryl: man-made seven figures, we will tell you how much it brought in. i love it. it is fun. dennis: i would much rather watch them dance. it's a new day. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact whe axiron is applied as unexpected signs of puberty in children or changes in body hair or creased acnen women may occur. report these signs and symptoms to your doctor if they occur. tell your doctor about all medical conditions and medications. do not use if you have prostate or breast cancer. serious side effects could include increased risk of prostate cancer; worsening prostate symptoms; decreased sperm count; ankle, f
dennis: maybe something good can come out of the fiscal cliff. online gambling gaming in the negotiations. cheryl: man-made seven figures, we will tell you how much it brought in. i love it. it is fun. dennis: i would much rather watch them dance. it's a new day. if you're a man with low testosterone, you should know that axiron is here. the only underarm treatment for low t. that's right, the one you apply to the underarm. axiron is not for use in women or anyone younger than 18. axiron can...
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Dec 13, 2012
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cliff negotiations, with particular attention to social security. we spoke to an associated press reporter. host: our series on the fiscal cliff continues this morning with a dive into social security. here to talk about the program and how it is involved in the discussions, the negotiations over america's financial future, is stephen ohlemacher, joining us from the associated press, where he is a reporter. how much social security do people get? guest: a little more than 66 million people. the average benefit is a little over $12,000 -- a little over $1,200 a month. maybe $13,000 a year or so. host: we are talking about retirees and the disabled. guest: a fairly wide group of people receive social security benefits. retired workers, spouses, children, disabled workers, widows, widowers. a big safety net of people. host: retirees receive about $1,200 a month on average. the benefits for the disabled, $1,100 a month on average. how does social security get financed? guest: it has been a self-funded program since its inception. it is funded by payroll
cliff negotiations, with particular attention to social security. we spoke to an associated press reporter. host: our series on the fiscal cliff continues this morning with a dive into social security. here to talk about the program and how it is involved in the discussions, the negotiations over america's financial future, is stephen ohlemacher, joining us from the associated press, where he is a reporter. how much social security do people get? guest: a little more than 66 million people. the...
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fundamentals are this, the fiscal cliff does not look like it is going to be resolved. if it is resolved, it only takes care of a small part of the deficit. gold is something that you will always own. this one out piece, when you have it in your hand, that is worth $1700. dennis: wow. >> the only thing is, you cannot use it to buy a twinkie. it is not common courtesy. dennis: thank you. cheryl: we have the ceo of one small business looking to hone in on industries come back. dennis: apple maps back on track. first, take a look at apple treasuries. ♪ and we can save you 10% on ground shipping over the ups store. look this isn't my first christmas. these deals all seem great at the time... but later... [ shirt ] merry christmas, everybody! not so much. ho ho ho! this isn't that kind of deal. [ male announcer ] break from the holiday stress. save on ground shipping at fedex office. >> i am tracing parents with your fox business brief. mortgage rates fell again last week. the average rate is now 3.3%. foreclosure filings climbed to the lowest level in six years. according
fundamentals are this, the fiscal cliff does not look like it is going to be resolved. if it is resolved, it only takes care of a small part of the deficit. gold is something that you will always own. this one out piece, when you have it in your hand, that is worth $1700. dennis: wow. >> the only thing is, you cannot use it to buy a twinkie. it is not common courtesy. dennis: thank you. cheryl: we have the ceo of one small business looking to hone in on industries come back. dennis: apple...
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ashley: let's get back to the details, our next guest says it would go over the fiscal cliff at the end of the year, we are in for a big stock market. i like that. chief investment officer joins us now. thanks, hitting the market actually believes we will come to a deal. >> absolutely. you get this sense it doesn't really wants to sell off even with all this uncertainty with both sides going back and forth, are we talking, are we not talking. the market seems to be creeping higher, seems to be seen through what is traditional political rhetoric and grandstanding and recognizing a deal will be done. ashley: it is one thing to get a deal, one other thing to get a bad one. even though we did not follow the cliff, we are stuck with a lot of bad decisions. >> even in a bad deal, tracy, one thing we can say is certainty will replace uncertainty. that is a big headwind for this economy. all of this uncertainty throughout the second half of this year, all of 2012 will be replaced with certainty and that should unleash pent-up demand when we see it in the construction, in capital spending, housi
ashley: let's get back to the details, our next guest says it would go over the fiscal cliff at the end of the year, we are in for a big stock market. i like that. chief investment officer joins us now. thanks, hitting the market actually believes we will come to a deal. >> absolutely. you get this sense it doesn't really wants to sell off even with all this uncertainty with both sides going back and forth, are we talking, are we not talking. the market seems to be creeping higher, seems...
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>> look, the fiscal cliff, if we go over, is going to affect municipals in a significant way. they're going to face that loss of funding and spending cuts, so -- i think that's going to be an issue regardless. i don't see, right now, that people are investing in municipals because of fiscal cliff issues. they are investing with the idea that taxes are going up, though it's likely that there will be some modification of the tax exemption. >> alexandra, going to leave it there. thank you for coming by. >>> coming up next, how america's role in the global energy market could be in for a big makeover. we make sure you're ready for us. >>> plus, what you need to know and breaking down what's at stake. stick around. [ male announcer ] feeling like a shadow of your former self? c'mon, michael! get in the game! [ male announcer ] don't have the hops for hoops with your buddies? lost your appetite for romance? and your mood is on its way down. you might not just be getting older. you might have a treatable condition called low testosterone or low t. millions of men, forty-five or older
>> look, the fiscal cliff, if we go over, is going to affect municipals in a significant way. they're going to face that loss of funding and spending cuts, so -- i think that's going to be an issue regardless. i don't see, right now, that people are investing in municipals because of fiscal cliff issues. they are investing with the idea that taxes are going up, though it's likely that there will be some modification of the tax exemption. >> alexandra, going to leave it there. thank...
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has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think tom coburn thinks it's going to happen. i wanted to play a bite from him and get your reaction. here he is. >> sure. >> i'm okay to compromise even on some of my issues, if, in fact, we'll solve the problem. but what we have is a game being played for political -- for the extreme right wing and the extreme left win rather than coming together and leading and solving the problem. >> so grover norquist. if you had to accept the tax rates would go up, all right, just they're going to go up and they're going to go up on somebody. what would you re
has nothing to do with the fiscal cliff. but it has everything to do with obamacare. >> now, it is true that a lot of those taxes did take place after the election. that's something we pointed out and is a fair point. but let me just ask you about the compromise we have to go to. because like i said, again, to get this done, taxes are -- i mean, they're going to go up on somebody. i just believe that this is what is going to happen. i think tom cole thinks it's going to happen. i think...
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i must have been a policy areas of the fiscal cliff talks. today the alternative minimum tax. hope i said that a. >> guest: something that was passed in the 1960s to animate a small group of high income individuals that were not paying any taxes. it did not have an inflation adjustment, so now the group has grown enormously and we assume in a budgeting sense the way we budget that this revenue will come in. it's not going to comment because if we allow the text if you can look at tens of millions of america. so we fixed it. i would hope in the next year we could have a permanent fix to get it out of the budgetary budget. same thing with what is called sgr, sustainable growth with medicare and medicaid. we patched these things over. let's figure out a way to get it out of the budgeting process so numbers can be something they can project forward realistically. >> host: is this a big deal? >> guest: it is. if we were to not get it then it would be a big deal. we raise taxes on millions of americans overnight. this is one of those things they don't take about because we never let
i must have been a policy areas of the fiscal cliff talks. today the alternative minimum tax. hope i said that a. >> guest: something that was passed in the 1960s to animate a small group of high income individuals that were not paying any taxes. it did not have an inflation adjustment, so now the group has grown enormously and we assume in a budgeting sense the way we budget that this revenue will come in. it's not going to comment because if we allow the text if you can look at tens of...